Business
Business, 10.06.2020 03:57, brooklynunderwood46

At December 31, 2010, Aaliyah Company reports the following results for its calendar year. Cash sales $1905,000
Credit sales 5682000

In addition, its unadjusted trial balance includes the following items

Accounts receivable $1,270,100 debit
Allowance for doubtful accounts 16,580 debit

Required
1. Prepare the adjusting entry for Aaliyah Co. to recognize bad debts under each of the following independent assumptions:
a. Bad debts are estimated to be 1.5% of credit sales.
b. Bad debts are estimated to be 1% of total sales.
c. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible.

2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2010, balance sheet assuming that an aging analysis estimates that 5% of year-end accounts receivable are uncollectible.

answer
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 06:00, kyeilahj
List three careers that require knowledge of science. list three careers that require the use of of math. list three careers that require the use of foreign language. list three careers that require the use of good writing skills. list three careers that require the use of good computer skills.
Answers: 3
image
Business, 22.06.2019 09:00, tiffanibell71
Asap describe three different expenses associated with restaurants. choose one of these expenses, and discuss how a manager could handle this expense.
Answers: 1
image
Business, 22.06.2019 11:40, ayoismeisalex
In each of the following, what happens to the unemployment rate? does the unemployment rate give an accurate impression of what’s happening in the labor market? a. esther lost her job and begins looking for a new one. b.sam, a steelworker who has been out of work since his mill closed last year, becomes discouraged and gives up looking for work. c.dan, the sole earner in his family of 5, just lost his $90,000 job as a research scientist. immediately, he takes a part-time job at starbucks until he can find another job in his field.
Answers: 2
image
Business, 22.06.2019 19:00, williamsvilletiles
When making broccoli cream soup, the broccoli and aromatics should be a. burned. b. simmered. c. puréed. d. sweated.
Answers: 2
Do you know the correct answer?
At December 31, 2010, Aaliyah Company reports the following results for its calendar year. Cash sal...

Questions in other subjects:

Konu
Advanced Placement (AP), 13.08.2020 05:01
Konu
Mathematics, 13.08.2020 05:01